atans1

Catch-22 for PMETs

In Economy, Property on 21/04/2016 at 2:22 pm

“No country becomes rich after it gets old,” warns Rodrigo Chaves, country director for the World Bank. “The rate at which you grow [with] a whole bunch of old people on your back is much lower than the rate of growth at which you can grow when people are active, are educated, are healthy.”

(FT article on Indonesia)

This is the reality be it Indonesia or S’pore or the US: population growth, not productivity growth drives economic growth. What it means is that S’pore will have problems “growing the pie” (or trickle down) if the demographic profile is not reversed.

If S’poreans who have mortgages (whether on public or private) hope to use their property to finance their retirement, they should be petitioning the PAP administration to allow FT PMETs to flood in by the cattle truck load again, not juz by the A-380 load so that there are a lot more younger people so that the economy can keep on growing.

Waz the value of that property if there’s no demand for housing when the PMETs reach 79?

But then, these S’poreans will find themselves unable to finance their mortgages because FTs steal their breakfast, lunch, dinner and supper.

What to do meh?

Well didn’t the PMETs vote for the PAP consistently. Like Harry’s daughter, they have made their bed and must lie in it.

Vote for Robin Hood anyone?

Robin Hood, Robin Hood, riding through the glen Robin Hood, Robin Hood, with his band of men

Feared by the bad, loved by the good

Robin Hood, Robin Hood, Robin Hood

 

He called the greatest archers to a tavern on the green

They vowed to help the people of the king

They handled all the troubles on the English country scene

And still found plenty of time to sing

 

Robin Hood, Robin Hood, riding through the glen

Robin Hood, Robin Hood, with his band of men

Feared by the bad, loved by the good

Robin Hood, Robin Hood, Robin Hood

After all in S’pore, the PAP is viewed as the party “Feared by the poor, loved by the rich”: think VivianB and his sneering at the elderly poor. He’d make a good sheriff of Nottingham in any movie.

But sadly, the nearest we have to a Robin Hood (Dr Chee) will be thrashed by an Indian lawyer in the coming Bukit Batok by-election.

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  1. Thanks for the Robin Hood song … brings back fond memories of my time in ye olde englande. They sure do continue to broadcast whacky (but fun) old TV shows.

    Quality of tenants have also dropped. My longtime good tenant has moved to the US 2 years ago when prospects there became brighter. Now I’m renting my sole condo to ah nehs, although well paid ah nehs … but still …. Luckily I sold off most of my properties in 2014.

    The nadir for Singapore real estate will probably be late-2018. Next couple of years will be good time to explore, plan & acquire some good deals. That’s why I always say no worries man, golden times ahead!!

  2. You had predicted the PAP wins at East Coast and Marine Parade GRCs and gave cogent, logical and experiential take why you believed so. You also asserted the Aljuneid GRC contest would be pretty close. That,too, was accurate. This time round you came out rather early to suggest/predict a thrashing of CSJ by his PAP opponent. Would appreciate why you thought so. Thanks.

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